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House of Representatives passes largest tax cut in state history

(South Dakota Broadcasters Association) The South Dakota House this afternoon (Wednesday) overwhelmingly passes the largest tax cut in the state’s history.

HB 1137 reduces the state sales and use tax from 4.5% to 4.2%

It passed on a 66 to 3 vote.

Supporters say it would be a $104 million tax cut.

Supporters also say because of the strength of the state’s economy and prudent budgeting, the state will be able to pay for its ongoing obligations without issue.

One opponent said it was not a good idea to pass tax cut legislation before all the appropriation bills have been considered, and the overall budget picture needs to be clarified.

The measure could save South Dakotans an average of $116 per person in sales tax. 

The bill now goes to a Senate committee.

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In Touch 3/01/24

Aberdeen Parks and Rec’s Gene Morsching joins us to talk about an upcoming job fair…